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20130118
20130118
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Search Results 0 to 26 of about 27 (some duplicates have been removed)
of president obama, house republicans have floated a new plan they say will extend the debt ceiling for three months, but also cut congressional paychecks if mr. obama and the democrats don't agreed to deep spending cuts by april. steve handelsman says the gop has just grabbed the headlines two days before the inauguration. >> reporter: washington is almost ready. massive security, barriers going into place, bleachers along pennsylvania avenue for monday's inaugural parade. and the president atviewing stand, bulletproof and fancy, rebuilt every four years but since a huge crowd full of hope saw the first swearing-in, america has lowered its expectations. only 35% in the nbcs in/"wall street journal" poll says the country is headed in the right direction. as president obama's news portrayed is released, his approval stands at 52%. his likability at 61%, but only 29% say he is working effectively with congress. and today there's more conflict. responding to the president's declaration that he won't negotiate over the debt ceiling, republicans backed down. they raised the borrows limit but just
. this is bill the republicans plan to vote on next week. this is three-month increase in the debt ceiling contingent on both the senate and house passing a unbillion jet. republican line has been for some time, the senate failed to pass a budget in years, and they say without passing the budget they will not increase the debt ceiling nor, this bill says, will lawmakers get a paycheck. the reaction from the senate majority leader harry reid's office, good that republicans are backing off holding the economy hostage because there are no significant spending cuts in this proposal. just a three-month increase, contingent on the senate passing a budget. in a statement, they say, if the house can pass a clean debt ceiling increase to avoid default and allow the united states to meet its existing obligations, we will be happy to consider it. so that is the plan right now for republicans. get this debt ceiling debate out of the way for the next three months. focus on government spending, those automatic government spending cuts that are supposed to hit at end of the february known as sequester. a
the debt ceiling for three months until april 15. but there's a catch: they say within that time the senate and the house must pass budgets outlining their spending priorities for the year. now, that may not sound very difficult, but as republicans like to point out, senate democrats haven't passed a budget since 2009 and republicans say if they don't do so by april 15 then all members of congress should stop getting paid. >> pelley: but, nancy, why would the republicans abandon their demand for dollar-for-dollar spending cuts in exchange for raising the limit? >> well, in part they were worried about getting the blame if there was a default. this way they shift the burden to senate democrats to come up with a budget and they can still call for more spending cuts in three months when this comes up again. in the meantime, everyone gets a bit of breathing room which is why the white house may not have shot down the plan today-- even though they, of course, prefer a long-term extension of the debt ceiling, not just three months. >> pelley: nancy, thanks. president obama is about to begin his s
republicans say they are prepared to raise the roof on the debt ceiling for another three months, a bit of a breather. in return they want guarantees from democrats that congress will work quickly to pass a budget so it can focus how to bring down the nation's debt. >>> security will certainly be tight near the capitol for the upcoming inauguration and the coastguard will keep a close eye on the rivers through the city. increased security is in place on the potomac between the key bridge and reagan national airport already. on the anacostia patrols will extend from the 14th street bridge to the 295 bridge, but from sunday through tuesday water traffic along those waterways will be closed entirely for 48 hours. >>> while the president's been working on his speech his staff has had to respond to a petition signed by 34,000 people demanding that the government build a death star, that is, death star as in the ds1 orbital battle station, you know, the one from star wars. maybe that's why the white house is changing the rules for those online petitions and bruce leshan is here to tell us all
of the united states of america. david: but you look at the way the debt ceiling has increased. the last three years of the bush administration, granted it was up, and you had reason to be for some strict funding rules, but it went up 1 trillion from 06 to 09. from 9 to 10 trillion. but then in the first three years of the obama administration it went up 6 trillion dollars, from 10 to 16 trillion dollars. don't we need something in there to discipline congress and the president about spending? >> you know, this idea that democrats need to be disciplined, it isn't that long ago -- david: i'm saying democrats and republicans, congresswoman, it's not just democrats, both of you. >> let me say it was not that long ago that we had a democratic president that actually handed off a large surplus as far as the eye could see really to a republican president that then put everything on the credit cards, that blew up the debt and the deficit. and then we ended up with a near depression, a recession, and so clearly of course some spending was going to go up, but actually it's gone up slower in the obama a
on the debt ceiling: a three month increase in the federal borrowing limit. it's expected to come to the house floor next week, but it comes with strings attached. the proposal includes a condition that house and senate lawmakers pass a budget blueprint for the coming year or go without pay. house majority leader eric cantor said it's simple.congss congress shouldn't be paid for failing to do its job. 't >> tom: next week 80 companies are scheduled to turn in their latest quarterly financial report cards. but rather than the short-term focus on the bottom line, our next guest thinks businesses need to consider all stakeholders, not just shareholders. john mackey is the co-founder and co-c.e.o. of whole foods market. he's author of "conscious capitalism: liberating the heroic spirit of business". john, why is concentrating on shareholders a myth as you call it? >> i don't know if concentrating on shareholders is a myth. i mean, most companies do concentrate on their shareholders. it's just not the best business strategy. because you have an interdependent stakeholder system where you need to cr
: retreating or regrouping? house republicans putting to a vote raising the debt ceiling for three months, but are they backing off of their demands for spending cuts in exchange for raising the debt limit? with more on this, grover norquist, president for americans for tax reform. great to have you here. other republicans doing the right thing? >> i think so. there are three tools the republicans have to force obama to focus on spending, which she does not want to do it and will do unless forced. first is the sequester which starts march 1st or 2nd. that is a hundred billion dollars per year. that is the real cut in spending that will happen. the other one is the continuing resolution which starts march 4/7. we have a continuing resolution. they are the republicans that can put obama on a very short leash and only give him a continuing resolution for a week for two or three. cut the spending each time. those are two very powerful mechanisms. gerri: you don't in addition of the purse strings on the debt ceiling to use that at the a lever and give the president to stop spending? >> i didn'
finally announced a debt ceiling plan. kick the can again. this time for three months. in an efforts to put pressure on the senate to do something instead. that's the whole, it wasn't me, i guess, strategy. of course, that means another debt ceiling debate is just three months away. joining us now, bill cohen, a columnist at bloomberg view and by phone we have nbc's luke russert in williamsburg, virginia, covering the house republicans. welcome to both of you. >> thank you, karen. >> luke, i want to start with you. republicans are calling it a plan, democratic leader nancy pelosi call it is a gimmick. it sounds more like -- i mean, my read initially was this is more like political posturing rather than a serious deal. what are you hearing down there? >> well, it certainly is something that's meant to try and force the senate to act. you know, the senate has not passed a suggest in over 1,300 days and that's a popular rallying cry of the house gop. but what came out of this retreat was the idea instilled in members that it's probably not beneficial with the republican brand so damaged
in williamsburg, virginia. maybe they'll use a short term increase in the debt ceiling maybe three months or six months. is that the point? how does that inform you? does that get to the heart of the matter? >> it certainly doesn't get to the heart of the matter. if we remember back in 2006 then senate obama said raising the debt limit is a sign of leadership failure. since he has been in office we have raised it six times. i believe we'll do it again. but it's spending cuts, we have to have responsible reductions in spending as soon as possible. >> you know, karen, welcome back. according to the cbo today the debt level went from -- i'm going to use round numbers, a little under $15 trillion to a little over $16 trillion. that's 2012 over 2011. this will make the fourth straight trillion dollar budget deficit and the largest increase in debt. it's not being talked about right now. but it is all on president obama's watch at some point he's going to be culpable. >> well, here's the problem, larry. you know, the suggestion put forward by paul ryan really plays right into something you mentioned,
a vote that will delay the debt ceiling for three months. so what they are doing, if you really look at house republicans who took the majority two years ago, they did it standing on principle for pretty much every squirmish. it seems that they are becoming a bit more sophisticated, rather, but their understanding, it seems, is that you have to pick your battles. losing credit ratings and so forth, that's not a smart battle to wage. look at some of the most conservative members of the house talking to deirdre walsh at the end of their retreat for three days about picking their battles in a better way. >> deal with the smaller ones first, maybe build up a little momentum, credibility, not only with the credit markets but with the folks back home, that we can actually deal with these things, take the small one first, debt ceiling last, i think it's a rational, reasonable thing to do. >> now, for some, wolf, maybe even those in the republican house leadership, like him talking about what is rational and reasonable, that may be a bit jarring but the house republicans are coming out of th
15. republicans will vote on a bill that extends the debt ceiling for three months, this would be from the time february is supposed to run out between february and march treasury says three months beyond that, debt limit increase that would be contingent on the senate and house passing a budget. for years they have failed to pass a budget, and so the debt ceiling would not increase unless the senate and house passed a budget. also, the bill would include language that if congress does not pass the budget, members, greshamission members were not a paycheck. if not, congress does not get paid. thank you. cheryl: thank you very much. over to you for breaking news. dennis: dow jones report in the u.s. negotiate hostage swaps with terrace. cbs is reporting one american hostage is dead, four others have survived in the algeria crisis over there. cheryl: every 15 minutes, of course stocks now and nicole petallides standing by at the new york stock exchange. i was watching the breaking news came, but not a big reaction from traders. why? nicole: they watch every headline, you're not r
will avert the u.s. from defaulting on the debt. >> we must prioritize three categories of payments. one would be debt service, interest on the debt so we would haven't default. a second would be social curt payment to seniors so they don't worry whether the check is coming or not. the third is pay for the active duty military personnel. >> the white house is not interested. >> let's be real here. there is no off-ramp. there is no way to mitigate is t horrific economic consequences of default. >> president obama warned republicans the refusal to raise debt ceiling unconditionally will make them responsible for laundry list of dire consequences. >> food inspectors, specialists tracking down loose nuclear materials wouldn't get paychecks. investors around the world will ask if the united states of america is in fact a safe bet. >> he will suggest every cat lizm that could occur. they clashed with the administration in 2011. treasury said the legislation to prioritize payment would represent default by another name. it would bring about the same katzic economic consequences. idea was dismis
with this on their plan. a three-month debt ceiling increase. debt limit increase contingent on the senate passing a budget. which they haven't done in quite some time. and no spending cuts except congressional members pay without budget. basically, congressional members can't get paid without spending cuts. let's bring in the panel. we talk about all of this. steve hayes for "weekly standard." charles lane, opinion writer for "washington post." syndicated columnist charles krauthammer who by the way wrote an editorial column said this -- "offer to extend the debt ceiling through say may 1 in exchange for the senate delivering a budget by the date, after four years of lawlessly refusing to produce one." charles, how did you come up for this idea. >> came to me in the shower. that is where i get all the ideas. i don't somehower with the house republicans. >> bret: this came out before, well before this decision. >> haven't talked to him. >> no. it came out online thursday. republicans proposed similar idea today. i have no idea how it arose in their caucus. the conclusion i came to is this. republi
are positive for the week. >> you would think that stocks would be worried about the debt ceiling and yet we had word that gop controlled house might have a deal. might vote next week to raise the debt ceiling for even three months. there is a very muted reaction and what to watch here are how people are buying etfs. this is the s&p 500. you can buy it in a single stock and you might say, oh, gee, there is a move there to the far right on the upside when the announcement came. but it is a very, very narrow amplitude. very narrow range of trading. that's about three points on the s&p 500. the volume did pick up and we will have volume towards the heavy side today. if you think that is good news pushing the debt ceiling out for stocks and i think generally would you look at it as good news, it certainly is fairly muted here. as for the major indices for the week, what simon was just talking about, there are deeper cyclical changes. big industrial names have been generally outperforming and that is very good news, if you think the global economy, those stocks would more closer would the global
that they were going to postpone for three months, that they would raise the debt ceiling both on it next week. i think the president understood that he came out of the initial round strengthened and the republicans came out weakened. right now, the republican party is in as bad shape politically as i can ever remember it being. the republican party which was favorable in public opinion just as recently as two years ago is now minus 23% unfavourable. john boehner, who was favorable has dropped to the point where he is 19% unfavourable in public opinion polls. it is the lowest ever recorded in the history of "the wall street journal," nbc poll so they had to get out of this. they couldn't face this fight again. in the sense of people is that if it did lead to the government defaulting on its obligations and social security checks not going out, checks not going out to personnel, the republicans would be blamed again. so i think the president understood the advantage he had. and he played it. >> and the republicans understood their own situation in today's actions. >> the professionals did, john bo
on lifting the debt ceiling. majority leader eric cantor said today republicans want an interim measure to provide about three more months of borrowing authority. the bill would not mandate immediate spending cuts, as house speaker john boehner earlier promised. instead, it would force congress to pass a budget or go without being paid. the government could reach the current debt ceiling by mid-february. ray nagin, the mayor of new orleans during hurricane katrina, has been indicted on charges for corruption. a federal grand jury accused him today of bribery, wire fraud, and money laundering while in office. nagin was the city's mayor from 2002 until 2010. two former new orleans officials and two businessmen have already pleaded guilty in the case. u.s. attorney general eric holder today defended president obama's moves to curb gun violence. the president signed 23 executive orders this week, calling for such things as more research into gun violence. today, in washington, holder told the u.s. conference of mayors that there's no question the orders are legal. >> now let me be very clea
that will coalesce. debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these problems long term. jenna. jenna: mike, if we're hearing this, then the white house is probably hearing this as well. any reaction from the white house about potentially this plan from republicans? report or the jenna, --. >> reporter: jenna white house officials are saying if congress doesn't want to raise the debt ceiling they should authority rise president obama to do it himself. they should extend it so it doesn't cause concern for the economy and global markets. >> longstanding tradition for the congress to raise the debt ceiling. this is power they have given themselves, the point is without
in this coming fight over the debt ceiling. in a big shift today, house republicans said they will vote to lift the limit for three months, but on the condition that the senate passes a budget. wall street liked this idea. the dow finished up almost 54 points to hit its highest closing level since december 10th of '07. nasdaq finished with a small loss. s&p 500 was up 5 points. also at five-year highs. >>> in washington tonight, it's starting to feel like a city that's about to host an inauguration. for the 57th time in the history of our republic, and host hundreds of thousands of people on a cold monday in january. our white house correspondent, peter alexander, is in lafayette park across from the white house, in front of the reviewing constant tonight. peter, good evening. >> reporter: brian, good evening to you. those are the best seats in the house, for a variety of reasons, including the fact they have heat. that's where the president and the first family will be watching monday's parade. the second obama inaugural is expected to draw roughly a third of the nearly 2 million people who ca
attention. and that debt ceiling crisis may be delayed until the spring. the house is reportedly getting set to vote on a three-month extension until next week and what that does is sets up a big fight on budget and spending cuts which could embroil the economy and stock market in a new round of uncertainty but it kicks that can down the road, so is that why stocks are a bit tempered today? we'll take a look at that. the dow right now up 12 points. we are flirting with those five and a half year highs, 13,610 and change would be that five and a half year high so we're just pleau that right now. the nasdaq down another eight points at the moment at 3127 and technology among the groups suffering today. the s&p, again, here we go again. any positive close for the standard & poor's 500 would be another five and a half year high for the s&p. let's take a closer look at the markets in today's closing bell exchange with our guests. andres, you and i were talking about the markets earlier. what do you think? getting ahead of ourselves with the rallies we've had so far this year. >> earnings matter,
on the idea of approving a three-month debt ceiling hike to buy time for negotiations of government funding. we'll keep you posted on update on that. next up on c-span, tavis smiley holding his annual for focusing on a party in america and possible policy solutions. we will hear from several panelists including cornell west, marcia fudge, and former house speaker newt gingrich. this is 2 1/2 hours. [applause] >> good evening. in the nation's capital on the campus of george washington university. we have been here now three years always trying to bring the nation to come to terms -- help the nation come to terms with an issue of national importance. for the last few years, we have been talking ad nauseum about the issue of poverty and how it is we get serious about making poverty a priority in this country. we will mix this up tonight. it seems to me that teetering on cliffs and bumping up against ceilings is not a good economic policy for a nation. we are going to talk tonight about what each and every one of us can do as americans, what agency we have to push our leaders to make the reduct
economy hostage. if the house can pass a clean debt ceiling increase and meeting the existing obligations we will be happy to consider it. here we are as i said three days before inauguration and it looks like another fight that the republicans are not prepared to it seems to follow through on despite the threats. >> zachary and i were having a conversation in the green room and i said i don't understand the meaning of a second inauguration for the president. i get it now. the reason we need another inauguration is apparently one party doesn't understand we had an election in november and they lost. which means that you move on and you let the president be the president of the united states. these guys still want to fight the old battles of 2012. >> but they're giving this extension now. >> a three-month extension. the white house should tell them to go shove it. you can't run a government three months at a time. you have to have a long-term planning. bad for the markets. bad for the country. bad for the economy. let's make clear, definitive decisions. you lost. let's come together and co
the sequestered, the debt ceiling, and you have the continuing resolution. the sequestered and debt ceiling fall on top of each other towards the end of february. these to say and republican leadership and the senate, which is served in for 12 years, you never take a hostage you cannot shoot. the problem with the house was they took hostage the cannot shoot when they took the fiscal cliff. if the republican members of congress take the debt ceiling as a hostage, it is a hostage you cannot shoot. as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game is over. tenfold. because believe me, though congress can stand up to the senior lobby. so that is not a legiti
Search Results 0 to 26 of about 27 (some duplicates have been removed)